This quiz is a part of the CFA Level 1 reading 'Statistical Concepts and Market Returns'. 

Statistical Concepts and Market Returns

A sample statistic will change each time you try to measure it, but a population parameter will remain fixed.

A population parameter is only based on conceptual measurements, but a sample statistic is based on a combination of real and conceptual measurements. 

The true value of a sample statistic can never be known but the true value of a population parameter can be known.

The range is equal to 5 standard deviations. 

The mean is much smaller than the median. 

The analyst used inferential statistics to calculate the mean returns of the sample and descriptive statistics to estimate the mean returns of all mutual funds.

The analyst used descriptive statistics to calculate the mean returns of the sample and inferential statistics to estimate the mean returns of all mutual funds.

The analyst used descriptive statistics to calculate the mean returns of sample as well as the population of all mutual funds.

A company asking its customers to rate their services on a scale of 1 to 10.

The amount of money a group of people have in their pocket right now.

Stocks classified as small-cap, mid-cap, and large-cap.